Bullion Silver Eagles Sales Down in February

in American Silver Eagle News

Sales of bullion America Silver Eagles toppled last month in comparison to the previous month of January which had claimed the second best month ever for Eagle sales. According to the United States Mint, authorized purchasers ordered only a relatively small 1,490,000 of the .999 fine investment grade Eagles from the Mint in February of 2012.

For comparison, January 2012 Eagles sales came in at 6,107,000. Still, even if one does not consider those January sales, the most recent figures are quite disappointing when one looks at the averages over the last couple of years.

Since October of 2008, the Mint has recorded a slower month for Silver Eagle sales only once. That occurred in November of 2011 when only 1,384,000 were sold. Of the forty months since the aforementioned October 2008, bullion Silver Eagles have averaged over 2.8 million sold per month.

Sales have been fueled in recent years by an uncertain economic market around the world in which investors have turned to the Silver Eagles as a hedge against other market factors. Last year, 2011, saw bullion Silver Eagles break the all-time annual record with the total number sold coming in at 39,868,500. The previous record was established the year before with 34,662,500.

Whether investors have lost their interest in Silver Eagles is truly yet to be known. It could simply be that many made their new years purchases in January and will again turn to Eagles later in the year.

Bullion Silver Eagles are not sold directly to the public. Instead, they are sold through a network of authorized purchasers. These purchasers obtain the coins in bulk from the Mint, then resell them to the public for a small premium above the current spot price of the one ounce of silver contained in each.

Along with these bullion Silver Eagles, the US Mint also typically strikes collector grade Eagles. Among the collector 2012 Silver Eagles will be a proof and an uncirculated version. The US Mint has also indicated that it may release a special 2012 Silver Eagle Set which may contain additional Eagles with special finishes and/or mintmarks.

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